Friday’s trading session was moderate as the Kina Securities Indices headed in opposite directions. The main index KSi added 0.36 points to end at 3,651.08 points while the Kina Securities home index KSHi shed 10.61 points or 0.11% to 9,770.68 points at the close.
One out of four stocks traded today gained versus another that lost.
PNG’s oil and gas stock Oil Search Ltd (OSH) closed a toea higher at K17.02.
Other stocks included Newcrest Mining Ltd (NCM) and City Pharmacy Ltd (CPL) both ended unchanged at K25.00 and K1.39 flat respectively.
Meanwhile, leading financial stock Bank South Pacific Ltd (BSP) was down by 2toea at K7.40.
Total shares registered today was 6,406 units valued at K42,365.33.
In markets abroad, U.S stocks closed higher despite a rise in U.S jobless claims and reports that ECB will soon begin bond-buying program. The Dow Jones Industrial Average climbed 38.82 points or 0.21% to 18,135.72 points. In Asian markets, stocks rose as the Japanese Nikkei led gains after the EU raised its growth forecast for the year. The Nikkei share average surged 195.47 points or 1.04% to 18,947.31 points. Australian share market closed slightly lower after weaker iron ore prices weighed on the resources sector as investors await the release of US jobs data. The S&P/ASX 200 fell 5.26 points or 0.09% to 5,898.90 points at the close of market today.